Updated: Jan 21, 2018
At the beginning of May, some of the greatest money managers get together at the Ira Sohn Investment Conference at the Lincoln Center in New York City. Some take the stage and share what investment they think will give investors the greatest return over a one year time period, and many others patiently sit in the audience and wait to hear what the presenters have to say.
There have been some ideas at this conference in the past that have moved the markets as the presenter is giving his speech, so Wall Street pays some close attention to the conference as it is going on. One idea that got some movement this year was Bill Ackman's pitch on Howard Hughes. I remember the stock being slightly down before he got on stage, and then it was up around 3% by the time he got off.
The conference also hosts an investment contest where almost anyone can submit their own stock idea for some of the best fund managers like Bill Ackman, David Einhorn, Joel Greenblatt, Seth Klarman, and Larry Robbins to read. The winner receives a ticket to go to the conference, along with a guest of their choosing, and takes the stage to pitch their idea to the audience.